Sunday, January 25, 2015

Week in Review 4/15




Welcome and thanks for reading! In this review, I will gather together important and interesting news and events over the last week related to my portfolio holdings. In my week review, I put also together some interesting articles from other websites that caught my attention during the past week.


Transactions of My Portfolio:

  • On January 22, 2015 I bought 25 shares of Royal Bank of Canada (More here)


News from My Portfolio Holdings:

Fortum Corporation: January 20, 2015

  • Fortum launches its first Greenfield Solar project in India (More here)

Chevron Corporation: January 20, 2015

  • Chevron and SK LNG Trading Sign Gorgon LNG Supply Agreement (More here)

Kinder Morgan Inc. January 21, 2015

  • Kinder Morgan to Acquire Premier Midstream Position in Bakken (More here)

Kinder Morgan Inc. January 21, 2015, Fourth Quarter and Full Year 2014 Results (More here)

Fourth quarter:

  • Distributable cash flow before certain items of $1.278 billion versus $482 million for the comparable period in 2013.
  • The increase over the fourth quarter 2013 is in part attributable to the KMI merger transactions, which resulted in the payment of a single dividend to all KMI shareholders in lieu of distributions to the former limited partners in Kinder Morgan Energy Partners and El Paso Pipeline Partners.
  • Distributable cash flow per share before certain items was $0.60 compared to $0.46 for the fourth quarter last year.
  • Fourth quarter net income before certain items was $664 million compared to $640 million for the same period in 2013. Net income was $566 million compared to $704 million for the fourth quarter last year.
  • Certain items after tax in the fourth quarter totaled a net loss of $98 million compared to a net gain of $64 million for the same period last year, primarily due to a $235 million non-cash, pre-tax impairment charge on one of the company’s oil and gas properties, partially offset by a nonrecurring tax benefit.
  • Increases Quarterly Dividend to $0.45 Per Share

Full year:

  • Distributable cash flow before certain items of $2.618 billion, up from $1.713 billion for 2013.
  • Distributable cash flow per share before certain items was $2.00 compared to $1.65 the previous year.
  • Net income before certain items was $2.340 billion compared to$2.044 billion for 2013. Net income was $2.443 billion compared to $2.692 billion for the previous year, down primarily due to a $558 million gain recorded in 2013 related to the re-measurement of the company’s original 50 percent interest in the Eagle Ford joint venture to fair market value. 

Prosafe SE: January 22, 2015


Royal Bank of Canada: January 22, 2015

  • RBC to acquire City National Corporation, a premier U.S. private and commercial bank (More here) 

General Electric Co. January 23, 2015, Fourth Quarter and Full Year 2014 Results (More here)

Highlights:

  • 4Q industrial segment profit +9%, with 6 of 7 segments growing earnings
  • 4Q revenues $42.0 billion, +4%
  • 4Q industrial segment organic revenues $32.2 billion, +9%; FY2014 $108.0 billion, +7%
  • 4Q margins +50 bps vs. 4Q’13; full-year margins +50 bps
  • $1.2 billion reduction in Industrial structural costs in 2014, ahead of plan
  • 2014 GE CFOA of $15.2 billion, +6%
  • 4Q Industrial CFOA of $7.2 billion, +64%; +30% excluding NBCU dealrelated taxes
  • GE Capital ENI (excluding liquidity) at $363 billion, -5% vs. year-ago
  • Underlying performance as expected in Oil & Gas. Organically, achieved: orders -4%, revenue flat, operating profit +6%. Reported: orders -10%, revenue -6%, operating profit +1%.

McDonald's Corporation: January 23, 2015, Fourth Quarter and Full Year 2014 Results (More here)

Full year results included:

  • Global comparable sales decrease of 1.0%, reflecting negative guest traffic in all major segments
  • Consolidated revenues decrease of 2% (flat in constant currencies)
  • Consolidated operating income decrease of 9% (8% in constant currencies), primarily due to the impact of the previously-disclosed supplier issue in APMEA (Asia/Pacific, Middle East and Africa) and weak operating performance in the U.S.
  • Effective tax rate of 35.5%, primarily due to an increase in reserves related to certain foreign tax matters
  • Diluted earnings per share of $4.82, a decrease of 13% (11% in constant currencies). The following items, which total $0.54 per share, negatively impacted diluted earnings per share by 10% (10% in constant currencies) for the year:
  • $0.31 per share due to an increase in reserves related to certain foreign tax matters
  • $0.23 per share due to the estimated impact of the supplier issue resulting from lost sales and profitability in APMEA
  • Excluding the impact of these items, earnings per share for the year would have been down 3% (1% in constant currencies) compared to the prior year
  • Returned $6.4 billion to shareholders through dividends and share repurchases, in connection with our $18-$20 billion, 3-year cash return target for the years 2014-2016

Fourth quarter results included: 

  • Global comparable sales decrease of 0.9%, reflecting negative guest traffic in all major segments
  • Consolidated revenues decrease of 7% (1% in constant currencies)
  • Consolidated operating income decrease of 20% (15% in constant currencies), primarily due to weak operating performance in the U.S. and the impact of the supplier issue in APMEA
  • Diluted earnings per share of $1.13, a decrease of 19% (14% in constant currencies), which includes a negative impact of $0.09 per share due to the supplier issue in APMEA
  • Returned $1.8 billion to shareholders through dividends and share repurchases


Articles that caught my attention:




I wish all readers a nice next week.   

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